Tahoe Resources

THO-T

Tahoe Resources
(THO-T)

About Tahoe Resources (THO-T)

Tahoe Resources Inc. is a mining company and intermediate precious metals producer with silver and gold mines in Canada, Guatemala and Peru. It was founded in Vancouver, BC by Kevin McArthur, former CEO of Glamis Gold and Goldcorp.
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What the experts are saying about THO-T

They have had everything go wrong that could. Losing the social license in Guatemala for their silver mine and other issues. Pan American has come in being very opportunistic to give a relatively low-ball bid. There may be some value opportunities going forward, but he would prefer to not have to wait to see that develop. He sees better opportunities.

They have had everything go wrong that could. Losing the social license in Guatemala for their silver mine and other issues. Pan American has come in being very opportunistic to give a relatively low-ball bid. There may be some value opportunities going forward, but he would prefer to not have to wait to see that develop. He sees better opportunities.

Sold it 7 years ago. He's not a silver/gold fan, so he won't rebuy it. It could recover partially from its decline. But he's not up on Guatemala now where Tahoe has a flagship silver mine that's currently shut down. There is lots of value here, if they can get it going. This is probably dead money.

Sold it 7 years ago. He's not a silver/gold fan, so he won't rebuy it. It could recover partially from its decline. But he's not up on Guatemala now where Tahoe has a flagship silver mine that's currently shut down. There is lots of value here, if they can get it going. This is probably dead money.

This is a name he has avoided due to the uncertainty of their Guatemala silver mine investment. Social license is a big issue for some of these countries. Half of their net asset value is in this country. He worries about the potential for public company conflict with the various levels of government there.

This is a name he has avoided due to the uncertainty of their Guatemala silver mine investment. Social license is a big issue for some of these countries. Half of their net asset value is in this country. He worries about the potential for public company conflict with the various levels of government there.

Half of this company is a Guatemalan mine that went through social unrest and a shutdown. People want to see how this starts again. He used to own it but got out when it got a little pricier. It took a 50% correction. You will see a slow revaluation.

Half of this company is a Guatemalan mine that went through social unrest and a shutdown. People want to see how this starts again. He used to own it but got out when it got a little pricier. It took a 50% correction. You will see a slow revaluation.

This is the Guatemalan end of the business of precious metals. They’ve got activists all around creating the usual problems. He believes the courts have permitted them to go forward. Expects it will get sorted out. Hold on or buy.

This is the Guatemalan end of the business of precious metals. They’ve got activists all around creating the usual problems. He believes the courts have permitted them to go forward. Expects it will get sorted out. Hold on or buy.

Had owned this because the Escobal project was one of the best silver deposit out there. The problem has always been Guatemala, which is why he sold his holdings. In July they had a court decision that suspended the mine. They have to deal with the suspension as well as a legal blockade, and in the interim, they have had to readjust their guidance, amend their credit facility, as well as suspend all dividend payments. As a single asset company, they get very highly discounted. There is still a lot of risk embedded in the stock.

Had owned this because the Escobal project was one of the best silver deposit out there. The problem has always been Guatemala, which is why he sold his holdings. In July they had a court decision that suspended the mine. They have to deal with the suspension as well as a legal blockade, and in the interim, they have had to readjust their guidance, amend their credit facility, as well as suspend all dividend payments. As a single asset company, they get very highly discounted. There is still a lot of risk embedded in the stock.

Had a court injunction to shut down their big silver mine in Guatemala, which is about half their NAV, but recently won a decision to bring it back on. They are fighting locals who now have road blocks up, so timing is hard to tell how aggressive they want to get to move the protesters. He got out because he saw better value in other places. He would revisit this once there is more clarity.

Had a court injunction to shut down their big silver mine in Guatemala, which is about half their NAV, but recently won a decision to bring it back on. They are fighting locals who now have road blocks up, so timing is hard to tell how aggressive they want to get to move the protesters. He got out because he saw better value in other places. He would revisit this once there is more clarity.

Technicals are not looking good. There are some encouraging signs in that it has recently formed a trading range, and very briefly broke above it. Gold/Silver stocks do very well from the middle of July through to October. Wait for this to get down to the bottom of its trading range, and look for technical signs that it is starting to outperform.

Technicals are not looking good. There are some encouraging signs in that it has recently formed a trading range, and very briefly broke above it. Gold/Silver stocks do very well from the middle of July through to October. Wait for this to get down to the bottom of its trading range, and look for technical signs that it is starting to outperform.

This has been interesting and a bit disappointing. Historically this has done well from January to approximately the middle of May of each year, but this year not so much. Seasonality works most of the time, but not all the time. What you need to do with a seasonal trade is to wait until technicals show that the stocks have shown signs of bottoming and are starting to show signs of outperformance relative to the market.

This has been interesting and a bit disappointing. Historically this has done well from January to approximately the middle of May of each year, but this year not so much. Seasonality works most of the time, but not all the time. What you need to do with a seasonal trade is to wait until technicals show that the stocks have shown signs of bottoming and are starting to show signs of outperformance relative to the market.

Thinks it is time to exit this. Results just have not been coming in. He can live with soft results, especially in a cyclical name, but this has been worse than most. Investors have pretty much exited the position, and rightly so.

Thinks it is time to exit this. Results just have not been coming in. He can live with soft results, especially in a cyclical name, but this has been worse than most. Investors have pretty much exited the position, and rightly so.

(Top Pick Dec 9/16, Down 8.8%)He bought more today. He bought them to benefit from the increase in commodity prices. He still likes it. It still pays a dividend. They are still reducing costs. 2.8% dividend.

(Top Pick Dec 9/16, Down 8.8%)He bought more today. He bought them to benefit from the increase in commodity prices. He still likes it. It still pays a dividend. They are still reducing costs. 2.8% dividend.

One of the places he absolutely wants to be positioned in right now is gold. Under Trump you could get 2% inflation and 3% growth or 3% inflation and 2% growth and we don’t know which it will be yet. So he would still like to have 5-7% in gold. He still likes royalty companies. He is watching this company very closely. It is a bit expensive, but they are working their way to being a TSX mid-cap company that will be on everyone’s comp sheets.

One of the places he absolutely wants to be positioned in right now is gold. Under Trump you could get 2% inflation and 3% growth or 3% inflation and 2% growth and we don’t know which it will be yet. So he would still like to have 5-7% in gold. He still likes royalty companies. He is watching this company very closely. It is a bit expensive, but they are working their way to being a TSX mid-cap company that will be on everyone’s comp sheets.

Fundamentally this is pretty good. ROC for 3 years is 13%, then 11%, and in the trailing 3 quarters was 9%, which is pretty good for a materials company. They’ve put a lot of capital to work. This looks undervalued. Looking at Q3 numbers, he would say this is worth about $18.

Fundamentally this is pretty good. ROC for 3 years is 13%, then 11%, and in the trailing 3 quarters was 9%, which is pretty good for a materials company. They’ve put a lot of capital to work. This looks undervalued. Looking at Q3 numbers, he would say this is worth about $18.

This is *almost* like catching a falling knife. Their silver and gold production costs are very low. Silver prices won’t fall much below where they are now. The risk / reward ratio is quite enticing. (Analysts’ Target: $21.79).

This is *almost* like catching a falling knife. Their silver and gold production costs are very low. Silver prices won’t fall much below where they are now. The risk / reward ratio is quite enticing. (Analysts’ Target: $21.79).

He likes to buy things when there is a lot of fear. 6 months ago everybody liked gold and silver, and now everybody hates it. Gold and silver made new lows, but the stocks didn’t. He thinks there is a cycle low being put in. These companies now are implementing technology, and are becoming much more efficient, so their operating leverage is much higher. Dividend yield of 2.37%. (Analysts’ price target is $23.45.)

He likes to buy things when there is a lot of fear. 6 months ago everybody liked gold and silver, and now everybody hates it. Gold and silver made new lows, but the stocks didn’t. He thinks there is a cycle low being put in. These companies now are implementing technology, and are becoming much more efficient, so their operating leverage is much higher. Dividend yield of 2.37%. (Analysts’ price target is $23.45.)

A good management team in place and an absolutely world-class mine in Guatemala. They got to sort of a premium market capitalization earlier in the year. The fact that it has come off is making this attractive. You have to consider the political risks. There is domestic political assertion that the deposit was obtained in ways that contravened Canadian and Guatemalan law. He personally does not believe that to be the case.

A good management team in place and an absolutely world-class mine in Guatemala. They got to sort of a premium market capitalization earlier in the year. The fact that it has come off is making this attractive. You have to consider the political risks. There is domestic political assertion that the deposit was obtained in ways that contravened Canadian and Guatemalan law. He personally does not believe that to be the case.

One of those unique names in gold and silver that has a decent dividend. A premier management team. His exposure currently is through Lake Shore Gold that they acquired to get their Timmins Camp reduction, which will be a nice way to derive some gold production. Guatemala is a little bit of geopolitical risk. There is good dividend growth potential as they continue to expand and generate free cash flow. A very well-run company and a nice diversified asset base.

One of those unique names in gold and silver that has a decent dividend. A premier management team. His exposure currently is through Lake Shore Gold that they acquired to get their Timmins Camp reduction, which will be a nice way to derive some gold production. Guatemala is a little bit of geopolitical risk. There is good dividend growth potential as they continue to expand and generate free cash flow. A very well-run company and a nice diversified asset base.

An extraordinarily high quality silver deposit. This was called away from him, but it had given him everything that he had wanted, and more. If the silver price goes higher, then this stock can go higher. It all depends on your outlook on silver prices.

An extraordinarily high quality silver deposit. This was called away from him, but it had given him everything that he had wanted, and more. If the silver price goes higher, then this stock can go higher. It all depends on your outlook on silver prices.

This can become a great Canadian mid-cap producer in 2-3 years’ time, and then you get the valuation bump as well. However, with what they actually have today, the stock is expensive. The other problem is that they have had a run. Gold has had the run, and the Cdn$ has had the run at the Cdn$ gold price. Because of that, he is cautious at this time.

This can become a great Canadian mid-cap producer in 2-3 years’ time, and then you get the valuation bump as well. However, with what they actually have today, the stock is expensive. The other problem is that they have had a run. Gold has had the run, and the Cdn$ has had the run at the Cdn$ gold price. Because of that, he is cautious at this time.

Started off as a silver producer in Guatemala, probably one of the best silver assets globally. It changed and remade itself through a number of acquisitions, and now has as much gold as silver. Trading at 1.5X NAV, which is in line with where seniors are trading, but generates a lot more free cash flow, about 4%-6%, where he gets 3%-4% with the seniors. Now that they have acquired Lakeshore, they can now start to talk about how they can surface value from some of the assets that no one gave them credit for.

Started off as a silver producer in Guatemala, probably one of the best silver assets globally. It changed and remade itself through a number of acquisitions, and now has as much gold as silver. Trading at 1.5X NAV, which is in line with where seniors are trading, but generates a lot more free cash flow, about 4%-6%, where he gets 3%-4% with the seniors. Now that they have acquired Lakeshore, they can now start to talk about how they can surface value from some of the assets that no one gave them credit for.

Thinks the worst is over for gold. It has a seasonal period that starts and ends in July, followed by another one later in the fall. This looks really good, except it is pretty volatile. Expects this to move much higher and he has a $26 target on it.

Thinks the worst is over for gold. It has a seasonal period that starts and ends in July, followed by another one later in the fall. This looks really good, except it is pretty volatile. Expects this to move much higher and he has a $26 target on it.

This kind of gives you the best of both worlds, silver and gold exposure. It has been able to acquire single asset companies or single assets, originally with their asset in Guatemala. Half of its NAV is in Peru with 2 gold projects. Their Lakeshore (LSG-T) acquisition was another way to diversify geopolitical risks. Dividend yield of 1.99%.

This kind of gives you the best of both worlds, silver and gold exposure. It has been able to acquire single asset companies or single assets, originally with their asset in Guatemala. Half of its NAV is in Peru with 2 gold projects. Their Lakeshore (LSG-T) acquisition was another way to diversify geopolitical risks. Dividend yield of 1.99%.

Chart shows it made 2 bottoms, one in November and then tested it again in January. That is followed by a nice trend line going up. On a longer term perspective there are probably going to be some levels it runs into. Gold is in a seasonally strong period now and until the end of May, and then it starts again in July and through until October. (See Top Picks)

Chart shows it made 2 bottoms, one in November and then tested it again in January. That is followed by a nice trend line going up. On a longer term perspective there are probably going to be some levels it runs into. Gold is in a seasonally strong period now and until the end of May, and then it starts again in July and through until October. (See Top Picks)

This hasn’t been around long enough to give a seasonal analysis on it. Technically the chart is showing a nice base pattern, and in the last few days it broke above the base pattern, came back to the trading range, and is now starting to head higher again. Looks very attractive at current levels. Dividend of almost 2%.

This hasn’t been around long enough to give a seasonal analysis on it. Technically the chart is showing a nice base pattern, and in the last few days it broke above the base pattern, came back to the trading range, and is now starting to head higher again. Looks very attractive at current levels. Dividend of almost 2%.

Their silver deposit in Guatemala is one of the best deposits out there. Took out 2 companies in Peru, so got into the gold business. Their Rialta deposit is good, and are building the 2nd one, which he feels is going to work out as well. (Joe Mazumdar) They then bought Lakeshore, which is an underground deposit, with a lot of capacity with respect to the plant and a lot of upside with respect to exploration. Tahoe provides the cash flow to develop that faster and organically, which is really the big boost for that district.

Their silver deposit in Guatemala is one of the best deposits out there. Took out 2 companies in Peru, so got into the gold business. Their Rialta deposit is good, and are building the 2nd one, which he feels is going to work out as well. (Joe Mazumdar) They then bought Lakeshore, which is an underground deposit, with a lot of capacity with respect to the plant and a lot of upside with respect to exploration. Tahoe provides the cash flow to develop that faster and organically, which is really the big boost for that district.

He likes the new company. It has emerged as an intermediate producer, $3 billion market cap, and is now half silver and half gold. There is free cash flow coming from the Escobal mine in Guatemala, the premier mine in the silver space. A 20 year mine life and best in class cash costs. The problem is, it is in Guatemala so they diversified their portfolio by acquiring Rio Alto giving you a portfolio and a company that is far more investment-grade. Great company with a great platform for growth. Management team and balance sheet that is best in class.

He likes the new company. It has emerged as an intermediate producer, $3 billion market cap, and is now half silver and half gold. There is free cash flow coming from the Escobal mine in Guatemala, the premier mine in the silver space. A 20 year mine life and best in class cash costs. The problem is, it is in Guatemala so they diversified their portfolio by acquiring Rio Alto giving you a portfolio and a company that is far more investment-grade. Great company with a great platform for growth. Management team and balance sheet that is best in class.

Silver. He does not like commodities. Chart shows a long downtrend which might be breaking. It is probably a little early to tell. There were some higher lows, but there is a succession of lower highs. If it can break up through that gently sloping downtrend, it might be in for a bit of a run into the $20 area. He would like to see it break first.

Silver. He does not like commodities. Chart shows a long downtrend which might be breaking. It is probably a little early to tell. There were some higher lows, but there is a succession of lower highs. If it can break up through that gently sloping downtrend, it might be in for a bit of a run into the $20 area. He would like to see it break first.

One of the newest silver mines. Have done a great job of ramping up. Will produce roughly 20 million ounces this year and make lots of free cash flow. With the money, they are going to start to initiate a dividend in Q4. Will be buying back some of their debt. Will also be putting an expansion into the mine, which will be very cheap to increase 20%-25% in throughput.

One of the newest silver mines. Have done a great job of ramping up. Will produce roughly 20 million ounces this year and make lots of free cash flow. With the money, they are going to start to initiate a dividend in Q4. Will be buying back some of their debt. Will also be putting an expansion into the mine, which will be very cheap to increase 20%-25% in throughput.

He is caution with the short term moving averages. Will trade from 6 months to a few years. With this chart there is no trend established yet. Instead find support at $23, make sure it holds, and hopefully it bounces off of that and then it should be fine.

He is caution with the short term moving averages. Will trade from 6 months to a few years. With this chart there is no trend established yet. Instead find support at $23, make sure it holds, and hopefully it bounces off of that and then it should be fine.

(A Top Pick Oct 30/12. Down 13.07%.)One of the most successful mine builders in the industry. Have just gone into commercial production in Guatemala and are shipping concentrate on a daily basis. Doing a bit of tinkering and getting recoveries up in certain areas. Will be producing about 19-20 million ounces of silver.

(A Top Pick Oct 30/12. Down 13.07%.)One of the most successful mine builders in the industry. Have just gone into commercial production in Guatemala and are shipping concentrate on a daily basis. Doing a bit of tinkering and getting recoveries up in certain areas. Will be producing about 19-20 million ounces of silver.